Power hour: Talking technology
Technology and e-trading has the power to transform the industry but, as our experts discussed at Biba 2011, insurers and brokers have been slow on the uptake. Liz McMahon reports.
How well has the industry embraced technology?
▶ Simon Cooter: We embrace it very poorly. We are a data driven industry and we spend a lot of time arguing about distribution and commission and not nearly enough modernising systems and pushing costs down.
▶ Ian: I couldn’t entirely agree with that. It has been very fragmented in terms of adoption and it was slow to start with but there is a degree of pace now. It’s hard to say whether that’s due to customer need or financial conditions, but it
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